https://www.taxtmi.com/caselaws?id=345311 The Tribunal partially allowed the revenue's appeal by upholding the addition to the extent of 5% of the bogus purchase amount under section 69C of the IT Act. This decision aimed to address revenue leakage based on the decline in gross profit shown by the assessee and the failure to produce sufficient evidence regarding the disputed purchases. The Tribunal balanced the interests of both parties by limiting the addition while considering the overall circumstances of the case. en-us Mon, 06 Feb 2017 00:00:00 +0530 Thu, 13 Jul 2017 07:28:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345311 The Tribunal partially allowed the revenue's appeal by upholding the addition to the extent of 5% of the bogus purchase amount under section 69C of the IT Act. This decision aimed to address revenue leakage based on the decline in gross profit shown by the assessee and the failure to produce sufficient evidence regarding the disputed purchases. The Tribunal balanced the interests of both parties by limiting the addition while considering the overall circumstances of the case. Case-Laws Income Tax Mon, 06 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345311